Home / Metal News / Aluminium / SMM Morning Review - 2010/8/20 Copper Market
SMM Morning Review - 2010/8/20 Copper Market
Aug 20, 2010 10:09CST
Source:SMM

SHANGHAI, Aug. 20 (SMM) – LME copper prices briefly pointed to USD 7,500/mt in earlier trading due to strong performance in China’s domestic stock markets, but lacked further upward momentum, reaching USD 7,492/mt. After the US announced a raft of weak employment and factory data, the US equities market dropped, and the US dollar moved higher. In this context, LME copper prices fell back from highs, and finally closed at USD 7,320/mt, down USD 60/mt.

SMM believes that SHFE copper market will likely advance on Friday due to support from rising stock market in China, and SFHE September delivery copper contract will move at RMB 58,000/mt.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

copper Cu
copper price
LME market
SHFE market
US dollar
US dollar index

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news